10-Unit Apartment
For Sale
$2,255,000
2206 Fillmore Street #110, Hollywood, FL 33020
Fully occupied multifamily property with updated roofs, wall AC units, and stacked parking.
Property Size7,445 SF
Lot Size0.46 Acres
Price / SF$302.89
Days on Market59
Property Features for 2206 Fillmore Street #110
General Information
Standard status
Active
Size
7,445 SF
Total Parking Spaces
20
Lot size
0.46 Acres
Property subtype
Residential Income
Zoning
DH-2
Occupancy
100%
Net Operating Income
$158,414
Units
Unit Mix
7 x 1BR/1BA, 2 x 2BR/1BA, 1 x 3BR/2BA
Multifamily Units
10
Additional Details
Cap Rate
7.03%
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$38,956
Building Details
Year Built
1959
Buildings
2
Stories
1
Listing Agency:
United Realty Group Inc
(646) 678-6477
Listed By:
Mariya Stoyanova · License #3343472
(646) 678-6477
Source:
Laerrealty
Added: Jul 5
Changed: Aug 30
Last Checked: Aug 31 at 12:55PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of United Realty Group Inc
Investment Insights
Based on property information with market context.
This 10-unit multifamily property consists of two buildings totaling 7,445 square feet on a 20,060-square-foot lot. The unit mix includes seven 1BR/1BA apartments, two 2BR/1BA apartments, and one 3BR/2BA apartment. Both buildings have a new roof and new wall AC units, while 20 stacked parking spaces serve the property. Built in 1959, the site is zoned DH-2 and is fully occupied.
Located at 2206 Fillmore Street in Hollywood, the property is a short distance from Downtown Hollywood’s ArtsPark and restaurant corridor. Hollywood Beachfront Broadwalk is 7 minutes away, Fort Lauderdale–Hollywood International Airport is 15 minutes away, and I-95 provides access to Miami in 25 minutes and Boca Raton in 30 minutes.
DH-2 zoning permits up to 4 stories and 45 feet in height, providing stated redevelopment flexibility in addition to the existing apartment improvements.
Located at 2206 Fillmore Street in Hollywood, the property is a short distance from Downtown Hollywood’s ArtsPark and restaurant corridor. Hollywood Beachfront Broadwalk is 7 minutes away, Fort Lauderdale–Hollywood International Airport is 15 minutes away, and I-95 provides access to Miami in 25 minutes and Boca Raton in 30 minutes.
DH-2 zoning permits up to 4 stories and 45 feet in height, providing stated redevelopment flexibility in addition to the existing apartment improvements.
Key Highlights
- 10‑unit multifamily property with seven 1BR/1BA, two 2BR/1BA, and one 3BR/2BA units
- Two buildings totaling 7,445 square feet on a 20,060‑square‑foot lot
- Fully occupied property with 20 stacked parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$124,093
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.50%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,481,860
$2.5M
Cap Rate 7%
$1,772,757
$1.8M
Cap Rate 9%
$1,378,811
$1.4M
Market Conditions
NOI Build-Up for 7,445 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$236.8K $31.80/SF
− Vacancy
−$11.1K −$1.49/SF
EGI
$225.6K $30.31/SF
− OpEx
−$101.5K −$13.64/SF
NOI
$124.1K $16.67/SF
Area
Hollywood, FL
Vacancy
4.70%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,481,860
Cap Rate 7%
$1,772,757
Cap Rate 9%
$1,378,811
Alternative Uses
Best Use
Apartment 5plus
$1.77M
$1.55M – $2.07M
NOI $124,093 @ 7.0% cap · market cap 5.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.91M
$2.55M – $3.40M
NOI $203,874 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,651
Businesses Nearby
Explore this area
Business Placement
Demographics for 33020, FL
45,044
Population
22,508
Households
2
Avg Household Size
41
Median Age
29%
College-Educated
89%
High-School Grad
6.0 sq mi
ZIP Area
7,507
Density / Sq Mi
$52,535
Median Household Income
$32,449
Median Earnings
$1,444
Median Rent
$306,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily property with updated roofs, wall AC units, and stacked parking.
Where is this apartment building located?
The property is located at 2206 Fillmore Street #110 Hollywood, FL.
What is the asking price?
The asking price for this property is $2,255,000.
What are key features of this property?
This property features: 10‑unit multifamily property with seven 1BR/1BA, two 2BR/1BA, and one 3BR/2BA units; Two buildings totaling 7,445 square feet on a 20,060‑square‑foot lot; Fully occupied property with 20 stacked parking spaces
